The inaugural six-million dollar Twenty20 Champions League has been cancelled and will now be held in India in October next year, organisers said on Friday.

The tournament, featuring the top eight Twenty20 domestic teams from Australia, South Africa, India, England and Pakistan, was initially due to be held from December 3-10 in Mumbai, Chennai and Bangalore.

It was put off after last month's terror strikes in Mumbai and was expected to be held in January, but has now been postponed again until next October.

The decision to cancel the tournament this year was taken "after considering all aspects, including the international calendar and the domestic schedules of the participating teams", a statement from the organisers said.

"The governing council of the tournament, comprising the founder board members (Australia, South Africa and India) took this collective decision after taking into account all aspects," said League commissioner Lalit Modi.

The teams that were due to play the inaugural event were Victoria and Western Australia (Australia), Dolphins and Titans (South Africa), Chennai Super Kings and Rajasthan Royals (India), Middlesex (England) and Sialkot Stallions (Pakistan).

But the line-up could change for the October event, depending which teams win their domestic Twenty20 competitions in the intervening period.

"It is a shock. It's come as a really big surprise - a bolt out of the blue," Middlesex captain Shaun Udal told Sky Sports News.

"Obviously, we are really disappointed," added the former England off-spinner, who insisted his team had no qualms about returning to India.

"We were happy to go back. I have spoken to most of the players in the last few days, and they were happy to go back."

Middlesex may not have been guaranteed a cheque for winning the tournament but there was no disguising Udal's frustration that Middlesex may not now ever get the chance to at least compete for the prize.

"Financially for the club, it was a huge carrot that we were going to go out there and play in this tournament," Udal added.

"It would have been brilliant financially if we had done well. But it was a bonus, not something we had budgeted for.

"From both a potentially financial and a cricket point of view, it is hugely disappointing."

Australia, South Africa and India will still send their top two teams to the event, while the other participating nations will be finalised in January, the statement added.